Central Asia’s mineral resources are becoming increasingly relevant to South Korea’s high-tech industry.
South Korea and Kyrgyzstan have agreed to strengthen bilateral relations and enhance cooperation in energy and critical minerals. Kyrgyz President Sadyr Japarov and his South Korean counterpart Yoon Suk Yeol formalized the partnership by signing a Memorandum of Understanding on Tuesday, according to Yoon’s office.
The two nations also forged a comprehensive strategic partnership to boost collaboration in trade, investment, supply chains, climate change, and other fields. Japarov is currently on an official visit to South Korea.
Central Asia Could Fuel South Korea’s High-Tech Industry
South Korea is home to some of the biggest players in the semiconductor and automotive industries but lacks the necessary critical minerals within its borders. The East Asian country largely depends on imports from China but is looking to diversify its supply chains. Central Asia plays a central role in this. In June, Yoon announced the “K-Silk Road” regional strategy that seeks to connect the mineral resources of Central Asia with South Korea. The meeting with Kyrgyz President Japarov is now the fourth summit Yoon held with leaders of Central Asian nations, following his roundtrip to Turkmenistan, Kazakhstan, and Uzbekistan in June.
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